Primecap Management Co. CA Has $2.68 Billion Holdings in NVIDIA Co. (NASDAQ:NVDA)

Primecap Management Co. CA lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 838.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,669,980 shares of the computer hardware maker’s stock after purchasing an additional 19,360,045 shares during the period. NVIDIA accounts for 1.9% of Primecap Management Co. CA’s holdings, making the stock its 13th biggest holding. Primecap Management Co. CA owned about 0.09% of NVIDIA worth $2,677,109,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NVDA. Bank of New York Mellon Corp lifted its holdings in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after purchasing an additional 71,757,065 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of NVIDIA by 882.4% during the second quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock worth $9,098,519,000 after purchasing an additional 66,151,750 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Evercore ISI boosted their target price on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Citigroup boosted their target price on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Trading Up 0.8 %

Shares of NVDA stock opened at $138.00 on Monday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a 50-day simple moving average of $121.88 and a two-hundred day simple moving average of $112.51. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,876,270 shares of company stock valued at $333,061,527 in the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.